Aspire Systems insurance wp Page 6
Internet Strategy for Insurance Companies
This dramatic reduction in cost is driving insurers to look for opportunities to use the net as part of
their distribution system. However, there is also the reality that many insurance products will require
the support and sales skill of agents and brokers. A company must look at each market segment in
terms of specific needs and characteristics.
This model holds true for life, health, and property/casualty insurers. Even the agent driven sales will
be supported by net enabled strategies to allow for faster service and reduced costs.
Although agents and brokers will remain an integral part of insurance distribution, they will need to
adapt to a new environment. Their focus will be on more sophisticated products and needs. For life
carriers, this means high net worth individuals and estate planning. For group insurers, this means
large employers with complex retention or plan design requirements. Property/casualty insurers will
address complex risk management issues through brokers and agents.
Mass Custom
-Estate Planning
-High Net Worth
Prop/Casualty
-Bank Channels
-Small Business
Group Insurance
-Term Life
-Simple Auto/Home
Net Driven Agent Driven
Delivery System
Market Needs
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